In a notice to its member-brokers and the public, the PSE said it is implementing Phase 2 of the trading hour extension. The morning session will run from 9:30 a.m to 12 noon while the afternoon session will be from 1:30 to 3:30 p.m. The market currently closes at 1 p.m.

Pre-open is at 9 a.m. while pre-close will be at 3:17 p.m., with run-off to begin at 3:20 p.m.

Investor caution has kept global markets subdued ahead of the European Union summit on Friday and the European’s Central Bank’s policy meeting today (Thursday), with market players expecting a rate cut as well as expanded liquidity measures to ease strains in the banking system.

European leaders may decide to raise the combined lending limit of their temporary and permanent bailout funds to help contain the spread of the sovereign debt crisis.

The addition of more trading hours was aimed at boosting trading volumes and matching the hours of other Southeast Asian exchanges.

The Philippines, one of the few equities markets in Asia which has the shortest trading hours in the region, has been planning to extend trading hours as it prepares to link up with other Southeast Asian markets via a regional trading network to be launched in March 2012.

“A bigger window of opportunity is always good in a bear or bull market. It gives more flexibility to investors to react accordingly given any investment climate,” said Astro Del Castillo, managing director at First Grade Holdings Inc.

Jeepney drivers will be provided with the third tranche of cash assistance this month to help them and their families cope with the crisis caused by the coronavirus disease 2019, presidential spokesman Harry Roque said.

It has become quite apparent from our own experiences and that of other countries during the coronavirus disease 2019 or COVID-19 pandemic that governments are becoming increasingly reliant on digital technologies to fight the pandemic and mitigate its impact on society and the economy.